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Ripple, a leading enterprise blockchain solutions provider for payments, has established a payment corridor from Canada to Nigeria through Remitr and Flutterwave. This is the first connection on the Ripple network in Africa.

New payment corridors were also opened in North America, Asia, Europe and South America. New corridors from the United Kingdom to Malaysia, Vietnam, Indonesia, Sri Lanka and Bangladesh were opened by InstaReM and RationalFX, while BeeTech created corridors from Brazil to Spain, Italy, Germany, France and Portugal.

With this expansion, Ripple is now live in over 40 countries across six continents, thereby, creating more connection points for Ripple customers around the world. The newly-opened corridors will also provide customers with flexibility when sending money to countries where payments are challenging.

“By opening up new corridors across North America, Europe, Africa and Asia, we’re expanding the global footprint of individuals who can benefit from faster and cheaper cross-border payments,” said Marcus Treacher, Senior Vice President of Customer Success.

He added that technology-forward payments providers like Remitr, Flutterwave, RationalFX, or financial institutions are focused on building connections between themselves so that they can better leverage Ripple’s blockchain technology to help people and businesses in need.

The newly-opened corridors, according to the statement by Ripple, have a combined potential market totalling $2 billion in inflows over the last year. Global remittances in 2018 are expected to reach $642 billion.

Ripple provides seamless experience of money transfer using the power of blockchain. By joining Ripple’s network, financial institutions can process their customers’ payments anywhere in the world instantly, reliably and cost-effectively.

It also allows financial institutions to use either fiat currency or the decentralised native cryptocurrency (XRP) for payments.